Dutch disease in former Soviet Union : witch-hunting?

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Title: Dutch disease in former Soviet Union : witch-hunting?
Author: Égert, Balázs
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 4/2009
Year of publication: 2009
Publication date: 15.4.2009
Pages: 35 s.
Keywords: talouskasvu; luonnonvarat; Neuvostoliitto; raaka-aineet; hinnat; toimialat; valuuttakurssit; teollisuus; IVY; Bofit-kokoelma; Hollannin tauti
JEL: E31; E32; F31; Q33
Abstract: This study seeks to determine the extent to which countries of the former Soviet Union are "infected" by the Dutch Disease. We take a detailed look at the functioning of the trans-mission mechanism of the Dutch Disease, i.e. the chains that run from commodity prices to real output in manufacturing. We complement this with two econometric exercises. First, we estimate nominal and real exchange rate models to see whether commodity prices are correlated with the exchange rate. Second, we run growth equations to analyse the possible effects of commodity prices and the dependency of economic growth on natural resources. Key words: Dutch disease, commodity prices, exchange rate, Commonwealth of Independent States. JEL Codes: E31, E32, F31, Q33
Rights: https://helda.helsinki.fi/bof/copyright

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